Power Finance Corporation of India has come out with Tax free , Secured, Non-Convertible Debentures. The Interest on these debentures are completely tax free and Investment in these bonds are also exempt from Wealth Tax.
The Salient features of this issue are as below :-
Click here to send your enquiries/suggestions , if any.
Public Issue of Tax Free Secured Non-Convertible Debentures by PFC Ltd
| Issue details: Issuer | Power Finance Corporation Limited |
| Issue of Bonds | Secured, Redeemable, Non-Convertible debentures, having benefits under section 10(15)(iv)(h) of the Income Tax Act, 1961 |
| Issue Open Date | December 30, 2011 |
| Issue Closing Date | January 16, 2012 |
| Face Value (Rs.) | Rs.1,000 |
| Issue Price (Rs.) | Rs.1,000 |
| Minimum Application(Rs.) | Rs.10,000 |
| Issue Size | Rs.1,000 crores with an option to retain an oversubscription up to the Shelf limit (i.e. Rs.4033.13 crores). |
| Ratings | CRISIL AAA/Stable,ICRA AAA |
| Security | The Bonds issued by the Company will be secured by creating a charge on the book debts of the company and/or identified immovable property by a first/pari passu charge, as may be agreed between the Company and the Debenture Trustee, pursuant to the terms of the Debenture Trust Deed |
| Issuance | In dematerialized form and physical form |
| Lead Managers | SBI Capital Markets Limited, A.K. Capital Services Limited and RR Investors Capital Services Private Limited |
| Registrar | Karvy Computershare Private Limited |
| Allocation | Allotment on first come first serve basis.Category I investors (Institutional & Corporate Investors) – upto 50%
Category II investors (Individuals & HUF applying > Rs 5 lakhs) – upto 25% Category III investors (Individuals & HUF applying upto Rs 5 lakhs) – upto 25% |
| Listing | BSE |
| Deemed Date of Allotment | Deemed Date of Allotment shall be the date on which the Directors of the Company or any committee there of approves the Allotment of the Bonds for each Tranche Issue. All benefits relating to the Bonds including interest on Bonds (as specified for each tranche by way of Tranche Prospectus) shall be available to the investors from the Deemed Date of Allotment. The actual allotment of Bonds may take place on a date other than the Deemed Date of Allotment |
| The issue Options | I | II | |
| Tenor | 10 Years | 15 Years | |
| Redemption Date | 10 Years from the Deemed Date of Allotment | 15 Years from the Deemed Date of Allotment | |
| Redemption Amount | Repayment of the Face Value plus any interest that may have accrued at the Redemption Date | Repayment of the Face Value plus any interest that may have accrued at the Redemption Date | |
| Coupon Rate (%)p.a. | 8.20% | 8.30% | |
| Frequency of Interest Payment | Annually | Annually | |
| Face Value(Rs./Bond) | Rs.1,000.00 | Rs.1,000.00 | |
| Issue Price(Rs./Bond) | Rs.1,000.00 | Rs.1,000.00 | |
| Minimum Application Size | Rs.10,000 (10 Bonds) | Rs.10,000 (10 Bonds) | |
| In Multiples of | 5,000 (5 Bonds) | 5,000 (5 Bonds) | |
| Coupon Rate (%)p.a. | 8.20% | 8.30% | |
| Nature of Indebtedness and Ranking | The claims of the Bondholders shall rank pari passu with other secured creditors having a charge over the on the book debts of the company and/or identified immovable property as may be agreed between the Company and the Debenture Trustee, pursuant to the terms of the Debenture Trust Deed and such claims shall be superior to the claims of any unsecured creditors. | ||
Kindly guide me how to get these debenture